ACME Solar Holdings Ltd has successfully secured INR 1,571 crore in long-term project funding from India Infrastructure Finance Company Ltd (IIFCL) for its 300 MW ACME Renewtech Sixth project in Rajasthan. This financing, with a 19-year tenor, marks IIFCL’s first sole greenfield finance to ACME. The project, with a total capex of INR 2123 crore, includes a 1350 MWh Battery Energy Storage System (BESS) and has a 25-year PPA at INR 6.28/unit.
ACME Solar Secures Major Project Funding
Gurugram – August 27, 2026: ACME Solar Holdings Ltd (ACME Solar) has announced the successful acquisition of INR 1,571 crore in long-term project funding from India Infrastructure Finance Company Ltd (IIFCL). This funding is designated for the construction and development of the ACME Renewtech Sixth 300 MW assured peak power project located in Rajasthan.
Key Project and Financing Details
The project financing was secured at a competitive interest rate. This milestone represents IIFCL’s inaugural sole greenfield finance to ACME Solar and includes a repayment tenor of 19 years. With this latest funding, ACME Solar has now raised a cumulative total of INR 10,976 crore during the current fiscal year. The Power Purchase Agreement (PPA) for this project has been executed with SECI Limited, spanning a period of 25 years, with a fixed tariff of INR 6.28 per unit.
Project Scope and Technology
The ACME Greentech Seventh assured peak power project is designed to integrate multiple renewable energy technologies, including Solar and Battery Energy Storage System (BESS). This combination aims to ensure consistent supply obligations under its PPA, thereby enhancing predictability and dispatchability. The project’s total capital expenditure is estimated at INR 2123 crore and forms a significant part of ACME Solar’s broader battery-storage capital deployment strategy for the current financial year. The plant will feature 1350 MWh of BESS alongside solar generation to guarantee assured peak power supply.
Project Execution Status
The project is reportedly progressing well, with grid connectivity already established. Key infrastructure components such as the Pooling Substation and a dedicated transmission line are in advanced stages of completion, with substantial land secured for the site. These advancements position the project for timely construction. Notably, the entire project is being developed within Rajasthan, a state ACME Solar views as a growing hub for its hybrid renewable capacity.
About ACME Solar
ACME Solar Holdings Limited is recognized as a leading integrated renewable energy player, boasting a diversified portfolio of 8,370 MW across solar, wind, storage, FDRE, and hybrid solutions. The company has an operational contracted capacity of 2,990 MW, approximately 3.62 GWh of BESS capacity, and an under-construction contracted capacity of 5,380 MW. The signed portfolio for under-construction projects stands at 4,010 MW. ACME Solar manages end-to-end development and O&M operations through its in-house EPC and O&M divisions, ensuring efficient project delivery and high operational performance.
Source: BSE
